Rocky Brands (NASDAQ:RCKY) Price Target Lowered to $25.00 at Robert W. Baird

Rocky Brands (NASDAQ:RCKY) had its price objective trimmed by Robert W. Baird from $32.00 to $25.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

Rocky Brands Price Performance

Shares of RCKY stock traded up $0.79 on Thursday, reaching $21.13. The company’s stock had a trading volume of 77,547 shares, compared to its average volume of 39,388. The stock’s fifty day simple moving average is $30.16 and its 200-day simple moving average is $32.33. Rocky Brands has a 1 year low of $15.23 and a 1 year high of $40.14. The company has a market capitalization of $157.40 million, a price-to-earnings ratio of 11.43 and a beta of 2.08. The company has a current ratio of 2.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 30th. The textile maker reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. The business had revenue of $98.26 million during the quarter. Rocky Brands had a net margin of 2.94% and a return on equity of 7.78%.

Rocky Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Tuesday, September 3rd. Rocky Brands’s dividend payout ratio is currently 34.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after acquiring an additional 1,332 shares during the period. Empowered Funds LLC purchased a new stake in Rocky Brands in the 1st quarter worth about $517,000. O Shaughnessy Asset Management LLC lifted its stake in Rocky Brands by 39.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,518 shares of the textile maker’s stock worth $638,000 after purchasing an additional 6,646 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Rocky Brands during the second quarter valued at approximately $149,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Rocky Brands by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after buying an additional 2,962 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.